Goldwind and Vietnam's GG Power Deepen Strategic Cooperation to Jointly Expand the Southeast Asian Energy Storage Market

en.Wedoany.com Reported - Recently, Goldwind signed a strategic cooperation agreement with Vietnam's GG Industries Joint Stock Company (GG Power). Building on their existing cooperation, the two parties will further deepen collaboration in energy storage business, conducting in-depth cooperation around production line technology upgrades, local technical talent development, and product manufacturing and supply, so as to jointly respond to customer needs in renewable energy consumption, power regulation, and power supply security.

Accelerating Renewable Energy Development Highlights the Growing Value of Energy Storage

According to data from Vietnam Electricity (EVN), by the end of 2025, Vietnam's national power system had an installed capacity of approximately 87.6 GW, of which renewable energy sources such as wind, solar, and biomass accounted for approximately 24.45 GW; the annual peak load reached 54.37 GW, up 11.1% year on year. The expansion of renewable energy scale and the growth in electricity demand have placed higher demands on the power system's flexible regulation and supply security capabilities.

Vietnam's revised Eighth National Power Development Plan (PDP8) proposes a planned battery energy storage scale of 10–16.3 GW by 2030. In October 2026, the Vietnamese government further encouraged the deployment of battery energy storage to cut peak loads and enhance user-side energy self-sufficiency, creating market space for energy storage products, system solutions, and localized services.

Vietnam's exploration is also a microcosm of the global energy transition. As renewable energy moves from being the mainstay of installed capacity to the mainstay of power supply, how to translate continuously growing installed capacity into reliable electricity supply has become a common challenge for countries around the world. Energy storage connects renewable energy generation with electricity demand and will play an even more critical role in promoting renewable energy consumption, enhancing system regulation capabilities, and safeguarding power supply.

From Factory Commissioning to Business Synergy, Continuously Deepening Cooperation

In April this year, the Vietnam energy storage factory jointly built by Goldwind and GG Power was officially commissioned. Located in Hung Yen Province, Vietnam, the factory has an annual capacity of 5 GWh, with products covering residential, commercial and industrial, and grid-side energy storage application scenarios, laying the foundation for the two parties to deepen localized cooperation and serve regional markets. As a participant in the localized development of Vietnam's energy storage industry, GG Power focuses on battery energy storage system manufacturing and integrated energy solutions, and continues to advance energy storage technology application, manufacturing capability building, and local market service system development.

Under the strategic cooperation agreement reached this time, the two parties will further strengthen energy storage business synergy, cooperating on production line construction, technology licensing, and localized manufacturing capability enhancement for front-of-meter energy storage products. In terms of project cooperation, the two parties plan to jointly cooperate on front-of-meter energy storage projects totaling nearly 2 GWh; at the same time, the two parties have made planning forecasts for market demand for energy storage products over the next three years, with an estimated cumulative scale of approximately 3.3 GWh, providing reference for subsequent capacity layout, supply chain synergy, and business resource planning.

From the establishment of a localized manufacturing foundation to the continuous deepening of product supply and market synergy, and further to the exploration of diversified business models, the two parties are gradually building a more comprehensive cooperative relationship, creating favorable conditions for future business expansion in Vietnam and global markets.